Dollar General extends tender offer for Family Dollar shares

NEW YORK (MarketWatch) -- Dollar General Corp.
DG, +0.43%
said on Tuesday that it was extending its tender offer to buy all of Family Dollar Stores Inc.'s
FDO, +0.29%
outstanding shares until Jan. 30. The tender offer was previously set to expire on Dec. 31, at 5 p.m. Eastern. The extension comes after a special meeting of Family Dollar shareholders to vote on the discount retailer's merger agreement with Dollar Tree Inc.
DLTR, +0.82%
was adjourned to Jan. 22, because of insufficient votes. Dollar General said as of Dec. 22, about 3.4 million Family Dollar shares have been tendered. That represents about 3% of the weighted-average Family Dollar shares outstanding at the end of the fiscal fourth quarter on Aug. 30. Dollar General's stock was gaining 1.5% in midday trade, while Family Dollar's was up 0.4%.

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